Immunophage Announces Completion of ￥200M Series A financing

(VCBeat) May. 11, 2021 -- Nanjing Immunophage Biomedical Technology Co., Ltd. ("Immunophage") today announced the completion of a Series A financing of RMB 200 million, led by LC Ventures, a professional institution focusing on innovative drugs, and Junshi Biosciences, with participation from New Silk Road Financial Holding. Hina Group served as the exclusive financial adviser in this funding.

Proceeds from this round will be used to promote the company's clinical researches of the first-tier pipeline and support subsequent R&D and accelerate the launches of products. Previously, a number of Immunophage's first-tier projects have entered the IND phase in China and the United States, and the company will start the phase I clinical study of many projects in the second half of the year.

Immunophage, founded in 2016 invested by the angel round investor Ennovation Ventures, is a company focusing on innovative drug research and development based on leading targets. The company is committed to the development of small molecules or macromolecular drugs in the treatment of malignant tumors, autoimmune diseases, metabolic diseases and neurodegenerative diseases, and other major diseases. Immunophage has achieved many milestones. The company has set up an R&D center in Shanghai in 2018 and a wholly-owned subsidiary in Australia in 2021. It plans to establish a wholly-owned subsidiary in the United States in the second half of 2021, so as to realize its global expansion.

LC Ventures is a fund management company focusing on the field of innovative cancer drugs. With a deep understanding of China's biomedical industry and ecological resources of the clinical research industry, LC Ventures focuses on the revolutionary technologies and products in the biomedical industry and invests in outstanding innovative pharmaceutical startups.

New Silk Road Financial Holding was founded in early 2015 in Shanghai, China. It is a private equity fund management agency. New Silk Road Financial Holding focuses on the investment in the field of life science, covering multiple subsectors such as biomedicine, medical devices and medical services, aiming to help the development of China's medical industry and meet the unmet needs of patients through the investment in medical and healthcare fields.